�Sensex & Nifty witnessed up movement during last week. NIFTY gained 1.12% while Sensex rose by 1.02% on weekly basis. BSE PU outperformed all other indices. Global factors are expected to continue impact equity market. US stock indices gained on Friday driven by favourable earnings reports in the retail and technology sectors as well as indications that the Federal Reserve is open to slowing its pace of rate hikes.
Equity Market Summary:
o European indices gained on last Friday as ECB Policy meeting minutes shows that European Central Bank policymakers agreed that the central bank should continue normalizing and tightening monetary policy to combat high inflation, even in the event of a shallow recession.
o The S&P Global US Composite PMI dropped to 46.3 in November 2022 from 48.2 in the previous month, signaling the sharpest pace of contraction in the private sector since August and among the quickest since 2009
o US initial jobless claim rose by 17,000 to 240,000 on the week ending November 19th, the most since August and well above expectations of 225,000.
o Eurozone Current Account surplus decreased sharply to EUR 3.8 billion in September 2022 from EUR 33.1 billion in the same month a year earlier. The goods account shifted to a EUR 9.3 billion deficit from last year's EUR 22.3 billion surplus, with imports reaching an all-time high of EUR 275.5 billion on the back of higher energy prices.
